Market voices on:

The replacement of Olam comes two weeks after its shares surged to a seven-week high on Nov 13, a day before it was expected to announce its first-quarter earnings. Olam shares climbed to as high as S$2.50 in intraday trading on Nov 13, about 10 per cent above the opening price of S$2.25. But gains were later pared, with the counter closing at S$2.41, up 7.1 per cent.

The share price surge came two days after the Singapore Exchange queried the company about unusual activity in the trading of its shares.

Olam had replied that although it was "in discussions" on possible acquisitions or sales, no definitive agreements were signed at that time and there was no certainty that any of them will materialise.